S&P 500 Daily Perspective for Fri 2 Aug 2024

GDR Model Performance

Please see the Performance page for more detailed performance numbers, how they’re calculated and a chart.

GDR Model Outlook

The GDR Model is mostly bullish, but for the first time in a while the market is showing some weakness last week. Time will tell whether this will be a temporary break in the uptrend or if a more serious sell-off will ensue.

Note on the Fundamentals Outlook (as of 17 June 2024):

for the first time in a while the model is showing stocks as being richly valued (i.e. overpriced). Note that this is just a barometer to help guide longer-term decision-making.

GDR Model Position

The GDR Model is carrying a decently sized long position on the heels of the current sell-off, but still underweight the index given the currently high valuations. If the market continues to sell-off without showing widespread weakness, the model is likely to continue modestly adding to its long position.

S&P 500 Futures Market Profile Chart